Airlines canceled more than 1,500 flights in the U.S. on Thursday, one of the worst days yet for travel as the peak summer vacation season heats up. At LaGuardia Airport in New York, more than one-third of all flights were scrubbed, and more than one-fourth of flights were dropped at nearby Newark Liberty airport in…
By Arathy Somasekhar (Reuters) – Oil prices edged slightly lower on Friday as worries about global economic growth and uncertainty weighed on markets following numerous interest rate hikes around the world this week. Brent crude futures fell 83 cents, or 0.8%, to $118.98 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell to…
(Reuters) – London’s Gatwick airport said on Friday it will limit the number of flights during the summer travel season in light of continuing labour shortages, a move that will force airlines to cancel some flights. Britain’s second-largest airport will cap flights at 825 per day in July and 850 in August in order to…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stock indexes closed sharply lower on Thursday in a broad sell-off as recession fears grew following moves by central banks around the globe to stamp out rising inflation after the Federal Reserve’s largest rate hike since 1994. The benchmark S&P 500 suffered its sixth decline in seven…
By Jorge Otaola BUENOS AIRES (Reuters) -Argentina’s central bank raised its benchmark interest rate by the most in three years on Thursday, hot on the heels of a major hike by the U.S. Federal Reserve and as the South American country firefights sky-high inflation running at over 60%. The central bank upped the benchmark Leliq…
By David Shepardson WASHINGTON (Reuters) -President Joe Biden on Thursday signed legislation to improve oversight of ocean shipping, which lawmakers say will help curb inflation and ease export backlogs. The bipartisan bill passed the U.S. House of Representatives on a 369-42 vote earlier this week. Biden said he had “promised to crack down on ocean…
By Sheila Dang (Reuters) -Elon Musk addressed Twitter employees for the first time on Thursday, expressing his view that Twitter would need to cut its headcount, but offering few other new details about his $44 billion planned takeover of the social media company. Musk appeared via video call 10 minutes late to what turned out…
By Jonathan Stempel NEW YORK (Reuters) – Elon Musk was sued for $258 billion on Thursday by a Dogecoin investor who accused him of running a pyramid scheme to support the cryptocurrency. In a complaint filed in federal court in Manhattan, plaintiff Keith Johnson accused Musk, electric car company Tesla Inc and space tourism company…
(Reuters) – Kamaz, Russia’s largest truckmaker, sees its exports stagnating at last year’s levels or falling slightly as clients shy away from settling payments with the firm after it was hit by Western sanctions, its chief executive said on Thursday. Under EU and UK sanctions as part of Western sanctions over Russia’s military intervention in…
By Koh Gui Qing NEW YORK (Reuters) -World stocks plummeted again on Thursday and government bonds hovered near multi-year highs after a series of rate rises from global central banks rekindled fears that aggressive policy tightening could drag economies into recession. Following a relief rally on Wednesday when investors welcomed the U.S. Federal Reserve’s aggressive…
